Desarrolladora Homex, S.A.B. de C.V. reported consolidated earnings results for the year ended December 31, 2015. For the year, the company reported revenues of MXN 377.5 million from the sale of 366 homes, of which 46% corresponded to affordable housing with an average price per home of MXN 465,000 and 54% corresponded to middle income housing with an average price per home of MXN 1.2 million. The company reported revenue of MXN 215.620 million in the fiscal year 2014.

Operating income was MXN 22,843.9 million against operating loss of MXN 722.279 million a year ago. The result is mainly derived from the application of the rule IFRIC 19 ­ Extinguishing Financial Liabilities with Equity ­ where the company made an adjustment in relation to the recognition of the reasonable value of its financial liabilities paid with Homex equity (common shares of the company as payment of the capitalized balance of their common credits, in accordance with the terms of the restructuring plan). Net income was MXN 18,369.6 million against MXN 3,710.489 million a year ago.

Net income principally derived from the recognition of other operating expenses (income). Net income before taxes was MXN 20,225.236 million against loss before taxes of MXN 3,376.543 million a year ago. Cash flow from operating activities was MXN 24,142.566 million.